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  • Swiss-based reinsurer Glacier Re has responded to rating agency concerns following last year’s hurricanes by further bolstering its capital base with a $30mn cash injection from existing shareholders.
  • Fitch Ratings has affirmed Lloyd's Financial Strength (IFS) rating of A (excellent) with an Issuer Default Rating (IDR) of A-. Both ratings have been assigned a stable outlook.
  • Randall & Quilter Group Investment Holdings Ltd, the UK based acquirer of run-off businesses, has acquired Chevanstell Ltd, The Insurance Insider can reveal.
  • Following the resignation of its deputy chairman Michael Murphy last month, Quanta Capital Holdings has suffered further setbacks. The insurance company has suffered a 3.3 percent drop in its shares today (21 August) on top of a 9 percent drop last Friday
  • Another subsidiary of Canadian combine Fairfax Financial Holdings announced last week that it would be delaying the filing of its second quarter results because it needed extra time to adjust accounting errors.
  • South African-headquartered broker Alexander Forbes Ltd has reached an £86mn deal with US broker Lockton Companies Inc and private equity firm Stone Point Capital LLC to sell its London-based international arm, Alexander Forbes International Risk Services
  • Insurance giant Zurich Financial Services (ZFS) last Thursday (17 August) reported half-year net profits of $1.96bn, up 9 percent on the first six months of 2005, and ahead of analysts’ consensus of $1.8bn.
  • Leading sports underwriter Sportscover announced on 15 August that it is launching a new Lloyd’s syndicate specialising in covering amateur sports.
  • Embattled life reinsurer Scottish Re Group and its subsidiaries suffered further downgrades from rating agency Standard & Poor’s (S&P) last week.
  • The UK Competition Commission has published a Statement of Issues for its inquiry into Lloyd’s members agency Hampden Private Capital’s acquisition of its rival CBS Private Capital’s advisory business.